CREAMFINANCE

On 25th
of February, an international Venture Capital fund
Flint Capital, investing across United States, Israel and Europe, bought
a minority share from Angel investor in Creamfinance. Flint Capital,
which has invested €5 million in Creamfinance two years ago, has
accomplished €1 million worth transaction making them the largest
institutional investor in Creamfinance. The action has been taken to
support the expansion of Creamfinance into Scandinavian market and
increase the shareholding of Flint Capital.

According to Andrew Gershfeld, partner at Flint Capital, the Venture
Capital fund decided to follow the expansion of Creamfinance as it
proved to be profitable and successful. “We are happy to double bet on
the Creamfinance team that we take as one of the most efficient on this
market. This deal indicates our true confidence in the company's
continuous progress and belief in the expansion to the Scandinavian
markets. The deal corresponds with Flint Capital strategy of
accelerating our European Fintech investments”, Gershfeld commented.

Matiss Ansviesulis, the CEO of Creamfinance, said, "The partnership with
Flint Capital positions Creamfinance for sustained growth and continued
expansion. We value relationship with Flint Capital and are thrilled to
see a continuous interest in our business, which helps the company
achieve its growth potential”.

Following the buyout, Andrew Gershfeld will join the Creamfinance Board
of Directors.

About Creamfinance

Consumer finance services provider Creamfinance was founded four years
ago in Latvia and has achieved consistent growth since. The company is
currently operating in six countries. Utilizing advanced algorithms and
machine-learning capabilities to quickly evaluate and score,
Creamfinance offers a highly customized approach to the personal loan
process in a speedy and reliable manner and aims to become a one-click
loans provider to consumers globally.